Ceres Joins LOT Network To Strengthen Patent Strategy & Deter Litigation
Ceres Power Holdings plc (CWR.L), announces that it has joined LOT Network, the world’s largest patent licensing platform and non-profit community of global companies committed to protecting themselves against costly litigation from patent assertion entities (PAEs).
PAEs, sometimes referred to as “patent trolls”, are responsible for a significant portion of high-tech patent litigation. Many of these patents are acquired via third parties and are used to profit through litigation against alleged infringers.
The LOT network which has over 3,500 members including companies such as Tata, BASF and BAE Systems helps to safeguard against PAEs. If a PAE acquires any patent asset once owned by a LOT Network member, all LOT Network members gain a license to that patent, shielding them from potential lawsuits (and associated fees). LOT Network covers many leading companies across various industries, spanning numerous countries and millions of patent assets.
For Ceres, this membership reduces litigation risks, permitting the company to concentrate on innovations that fortify its leadership in the development of clean energy technology.
“At Ceres innovation is the at the heart of our DNA. With decades of intelligent investment in research and development, it is essential that we take all the steps we can to protect our technology. By becoming a member of LOT network, we are joining forces with like-minded companies to deter unnecessary patent infringements and claims”
Caroline Hargrove, Chief Technology Officer, Ceres.